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The fed's beige book: mild inflation moderate economic growth

by:Deyuan      2020-12-23
The fed on Wednesday the beige book, said at the end of July to August in the United States economic growth at moderate speed, mild inflation, strong labor market didn't bring too much upward pressure on wages and prices.

the beige book said: & other; Tightening labor market conditions in most areas, and at the same time present the moderate growth of employment. Further increase the pressure on wages upward, overall performance throughout temperate &; In general maintain mild, prices.

the report covers the time from the end of July to August 29, during this period, according to the overall growth in many parts of the present & other; Moderate or mild & throughout; Rate, but the Kansas city and regional economic activity did not change, New York, Philadelphia and Richmond area economic activity though is still in the expansion, but slow speed during the last survey. And the beige book said in July, 11 regional fed's report said the economy present & other Moderate to mild & throughout; Expansion. Most of the fed is expected to moderate economic growth in the future.

Boston, Chicago and San Francisco, New York, st. Louis, Minneapolis Labour market continues to tighten. The Boston area appear unusually high number of vacancies, and Cleveland region employment only modest growth. Many parts of the business agency said high technology is hard to fill the vacancy. Wage growth in the region emerge from flat to the change of the strong, but most areas said wage pressures remain fairly modest level.

the degree of wage growth to moderate or mild, Chicago area wage growth pressure for mild, Atlanta wage growth pressure is stable.

the overall consumer spending in most areas basically remain unchanged, car sales fell but overall still remain high, the travel industry is flat. In addition, the U. S. presidential election result in some parts of the real estate market prospect under pressure, real estate and construction industries of respondents said that worried about the upcoming U. S. presidential election.

divisions, retail sales scale and the basic flat, Boston, Cleveland, and San Francisco area overall moderate growth, the fed said consumer spending slowed considerably but the Chicago area.

auto sales fell, but overall still remain high. Atlanta, Chicago, New York and San Francisco area sales slowdown or decline. Only in Dallas fed said auto sales appear strong growth. Tourism activities are basic flat with last report period expression.

non-financial services sales further growth, manufacturing activity increased slightly in most areas.

the housing market activity to moderate pace, but sales in some areas is restricted; Commercial real estate activity further expansion.

the various areas of business and consumer credit demand is different, but the overall expansion with moderate rate and a credit quality is stable.

mixed farming condition, good prices to offset a sharp drop in output growth. The overall weak demand of energy related products and services.

the fed & other; The beige book & throughout; Refers to the federal reserve according to its latest research results of the 12 regional fed into the national economic situation report regularly. The federal reserve published eight times a year the beige book report, the report with data reflect the recent economic regions and the actual status of the industries in various fields. The federal reserve will be according to the beige book for the evaluation of the economic and monetary policy, investors may according to the beige book content to judge the function of information exchange rates. The beige book is one of the important resources for the FOMC meeting minutes. The beige book release time is about the federal open market committee ( FOMC) Two weeks before policy meeting. On September 7,

the beige book full text see the fed's web site.
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